Massive moves on the Yen pairs

Today, we saw massive moves on the Yen pairs. USDJPY had gone up around 250 pips and the GBPJPY around 600!!

On the 2nd of April, I had put on a long for the USDJPY pair after it had bounce off support. I saw that the longer term trend was up but the market was going through a retracement.. I thought that this was an opportunity to go long so I did. I set my stop at 100 pips which was below the previous low and a target of 100 pips also for a 1:1 risk reward trade.

As you can see from the chart, below… there was some news in the market which moved the market strongly and I got my 100 pips but the price action continued for another 150 points. Yes, a missed opportunity and trading is hard enough so it’s really difficult to be able to claim the optimal amount of pips.

4th April USDJPY

On another note, the GBPJPY pair went up almost 600 pips.. this is a massive move and one that would have been an awesome trade if anyone was lucky enough to catch this one. I’ve scrolled out to show that this is the biggest bar in a long time! Personally I’ve never seen a bar this big.. EVER!!

4th April 2013 GBPJPY



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Category: Forex trader, Forex trading, money, Trading